Welwind Energy International Corp.(fka WWEI)

[emperor3605]

The only reason that the jv was offered was because wwei could bring prefered financing to the table---china had 8 percent interest rates at the time. Anyone in business has probably had the experience of an initial positive meeting with bankers pending dd and committee approval. Since october [wsj article] lending has tightened--ken lewis-boa ceo-said today to expect further tightening before credit improves. A number of bank analysts feel citi and boa are history. Analysts also suggest 16 of top 19 banks will fail stress tests and are functionally insolvent. ARM refinancing will not peak until 2011. Defaults are rising for credit card and commercial real estate---largest mall owner in u.s. in bankruptcy now.WSJ had article in last week or so detailing how wind project financing has dried up delaying numerous projects worldwide.

Obviously financing did not materialize for a wwei joint venture as structured.We can assume moronic management or a small company having its business plan stomped on by the worldwide credit crisis. It amazes me how almost every stock message board has angry investors solely blaming management--depression and worldwide credit crisis are not the main problems. Perhaps they should be more direct---jv cancelled because wwei could not obtain financing initially promised.
Current china wind farm will take months before any approval--financing will likely take months more---construction months more. Shannon stated in the conference call that from start to finish the average wind project takes 5 YEARS.Mines take 5-7 years to develop a producing mine.This a highly speculative stock with success far from guaranteed--but it does not necessarily mean a scam.